Russia eyes ports, biotech for rupee surplus investments in India

New Delhi: Russia is exploring the possibility of investing a portion of the rupee funds accumulated under the Rupee-Rouble trade arrangement in India's infrastructure and other high-growth sectors, people familiar with the discussions told ET.

The two sides are in talks to identify sectors where part of the rupee surplus accumulated by the Russian side can be deployed in India.

According to senior Russian sources, India's expanding ports sector is among the most promising investment destinations. Moscow is also evaluating opportunities in biotechnology, spanning healthcare and agriculture, as well as investments in Special Economic Zones (SEZs).


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"Several promising areas have been identified, with port infrastructure being the most attractive destination for rupee investments. India is implementing the large-scale Sagarmala programme to modernise and expand its port infrastructure through more than 800 projects. Investments in ports will not only generate long-term returns but also help Russia cope with sanctions," Alexander Dynkin, president of the Primakov National Research Institute of World Economy and International Relations, told ET.

Dynkin said biotechnology offered another significant opportunity. "Global demand for medicines will continue to grow, as will their production in India. At the same time, Indian agriculture requires new technologies to improve water efficiency and significantly raise grain output, paving the way for a second Green Revolution," he said.

He added that projects proposed by Indian authorities in SEZs were also commercially attractive.